Zacks Research Analysts Cut Earnings Estimates for Pentair plc (NYSE:PNR)

Pentair plc (NYSE:PNR) – Zacks Research lowered their Q1 2024 earnings estimates for Pentair in a report issued on Tuesday, April 16th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $0.89 per share for the quarter, down from their previous estimate of $0.90. The consensus estimate for Pentair’s current full-year earnings is $4.21 per share.

Other analysts have also recently issued research reports about the stock. Bank of America raised shares of Pentair from an “underperform” rating to a “neutral” rating and raised their target price for the company from $46.00 to $76.00 in a report on Thursday, January 11th. Stifel Nicolaus increased their price target on shares of Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $91.00 price target on shares of Pentair in a research note on Friday, March 22nd. Mizuho increased their price target on shares of Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $88.00 price target (up from $82.00) on shares of Pentair in a research note on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and an average price target of $87.33.

Pentair Stock Down 1.1 %

NYSE:PNR traded down $0.87 during mid-day trading on Wednesday, hitting $79.18. The stock had a trading volume of 920,778 shares, compared to its average volume of 1,611,675. The stock has a 50-day simple moving average of $79.76 and a two-hundred day simple moving average of $71.24. The company has a market capitalization of $13.15 billion, a PE ratio of 21.34, a PEG ratio of 1.53 and a beta of 1.20. Pentair has a twelve month low of $51.38 and a twelve month high of $85.81. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.01. The firm had revenue of $984.60 million for the quarter, compared to analysts’ expectations of $975.36 million. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share.

Pentair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Pentair’s dividend payout ratio (DPR) is presently 24.53%.

Institutional Investors Weigh In On Pentair

Several hedge funds have recently modified their holdings of the stock. AMF Tjanstepension AB acquired a new stake in shares of Pentair during the first quarter worth $45,096,000. Affiance Financial LLC acquired a new stake in Pentair in the first quarter valued at $201,000. Mcdonald Partners LLC lifted its holdings in Pentair by 1.4% in the first quarter. Mcdonald Partners LLC now owns 51,868 shares of the industrial products company’s stock valued at $4,432,000 after acquiring an additional 725 shares during the period. Ballentine Partners LLC lifted its holdings in Pentair by 8.8% in the first quarter. Ballentine Partners LLC now owns 3,646 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 295 shares during the period. Finally, Czech National Bank lifted its holdings in Pentair by 0.5% in the first quarter. Czech National Bank now owns 29,094 shares of the industrial products company’s stock valued at $2,486,000 after acquiring an additional 143 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.